Malaysian OSV operator Synergy Marine has taken the newbuilding plunge in a tough sector by ordering a new platform supply vessel (PSV).
The company told the New Straits Times that the LNG and diesel-powered vessel will cost MYR 188.75m ($45m).
The MTCMS Design ship will be built by the domestic Shin Yang yard.
It is the first PSV order listed by Clarksons since January 2017.
Synergy Marine managing director Datuk Roslan Ahmad said construction would start in January and delivery would be in December 2020.
"The LNG generating engine system is believed to reduce the release of sulphur dioxide, nitrogenous dioxide and carbon dioxide, which is more environmentally friendly than the vessels currently used," he added.
Market picking up?
He said: "Since the economic downturn and the decline in oil prices since 2016, most of the global oil and gas companies are restarting exploration and production campaigns, which is a good indicator because it shows the marine and shipping industry will start to pick up again.
"For the time being, we are building only one LNG power generating platform supply vessel, but some companies in West Asia have shown interest in the previous project.
"Therefore, we are ready to build another platform supply vessel if there was a demand for them from countries in West Asia," he said.
Synergy manages five OSVs. New offshore vessel orders have been very scarce in a struggling market.
